The recent action from Binance comes in the wake of the NYDFS ordering BUSD issuer Paxos to stop minting new coins. Binance has turned to a new set of stablecoins in the wake of the United States Securities and Exchange Commission’s (SEC) regulatory action against its native stablecoin, Binance USD (BUSD). The SEC had sent…
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Babel reportedly owes $524 million worth of Bitcoin, Ether and other tokens due to “risky trading activities” by co-founder Wang Li. Babel Finance, one of cryptocurrency lending firms shaken by the bear market of 2022, is exploring new restructuring opportunities involving minting a new token. Babel co-founder Yang Zhou is planning to build a new…
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Should the International Monetary Fund leave the door open for developing countries struggling with inflation? “Bitcoin was made for the Global South.” There’s been little sunlight this crypto winter, so it may seem odd to present the “Bitcoin as legal tender” argument again. That is, will or should any country — other than El Salvador…
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Israel’s tax authority is after two creators of non-fungible tokens (NFTs) suspected of failing to report almost $2.2 million in revenue. The news of the investigation comes after the recent arrest of a graphic designer from Tel Aviv accused of similar offenses. Thousands of ‘Western Wall NFTs’ Allegedly Sold Without Tax Reporting Israel Tax Authority…
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After a significant spike in February, sales of non-fungible tokens (NFTs) in the last seven days are 32.32% lower than last week. Of the 19 different blockchains, Ethereum accounted for $148.56 million out of the total $186.20 million in NFT sales settled this week. NFT Sales Decline Following February Spike in Digital Collectible Purchases During…
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Following the temporary suspension from Ukraine’s central bank, crypto exchanges like Binance and Kuna made official announcements informing investors about the inconvenience. Ukraine temporarily suspended the use of its national currency, the hryvnia, via banking cards for fiat deposits and withdrawals on crypto exchanges. While the move immediately impacted how investors move funds to and…
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Monetary policy for cryptocurrencies is a game-changer — with fixed supplies and decentralized control, they challenge traditional monetary policy tools. How might central bank digital currency design choices affect monetary policy? The design choices, such as the level of privacy — i.e., anonymous or fully traceable transactions — implemented in the creation of a CBDC…
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Major cryptocurrency exchanges operating in Ukraine have temporarily suspended operations with hryvnia bank cards. The measure stems from restrictions imposed by the country’s central bank, Binance and Kuna indicated in comments for crypto media. Ukrainians Unable to Trade Crypto Assets Using Cards in National Currency The world’s largest crypto exchange, Binance, and a leading Ukrainian…
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The lack of regulatory clarity is the biggest hurdle to the adoption of crypto-enabled payments, according to a new survey co-hosted by Ripple. The global payments industry is bullish on the potential of cryptocurrencies and blockchain to enable faster and cheaper transactions, according to a new survey co-hosted by Ripple. Blockchain-based digital payment network Ripple,…
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French police arrested two individuals in connection with the Platypus exploit in the month of February. Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. DeFi will be in focus during the inaugural Commodity Futures Trading Commission (CFTC)…
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